BOC surpasses Jan-Oct collection target by 18%

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Acting Customs Commissioner Yogi Filemon Ruiz during the Transport and Logistics Forum hosted by the Italian Chamber of Commerce in the Philippines on October 21.
  • BOC collects P670.34 billion in duties and taxes from January 1-October 13, 2022, beating its target by 18%
  • Post-clearance audit verifications and investigation of importers led to collection of P1.64 billion in customs duties, taxes, and other charges from January 1 to October 13
  • 82 million of new revenue generated from public auctions on January 1-October 13
  • 45 billion liters of petroleum products marked and P186.18 billion duties collected from January1 to October 13

The Bureau of Customs surpassed its January 1 to October 13, 2022 collection target by 18%.

The P670.34-billion collection is also 35.7% higher than the bureau’s P494.12-billion take in the same period last year, Acting Customs Commissioner Yogi Filemon Ruiz cited in a presentation during a recent forum by the Italian Chamber of Commerce in the Philippines.

Ruiz attributed the increase in collection to improved valuation, intensified enforcement operations against illegal importations, better compliance by traders with customs laws, gradual increase in importation volume, and the government’s effort to ensure unhampered movement of goods.

Post-clearance audit verifications and investigation of importers led to the collection of P1.64 billion of customs duties, taxes, and other charges from January 1 to October 13.

Ruiz said these collections were made during post-clearance audit of pharmaceutical companies and importers of food stuff, alcohol, tobacco, and rice, among others.

Public auctions conducted by various collection districts nationwide from January 1 to October 13 generated P257.82 million of additional revenue.

BOC also marked 14.45 billion liters of petroleum products and collected an estimated P186.18 billion of duties from January 1 to October 13.

From the start of the fuel marking program in September 2019 to October 13 this year, 49.09 billion liters of fuel was marked and a total of P529 billion in duties and taxes was collected by BOC and the Bureau of Internal Revenue.

Ruiz remains confident that BOC will surpass its full-year revised target of P733 billion by as much as 30%.

BOC has been beating its monthly revenue targets this year, even posting in July its highest monthly collection to date of P84.42 billion.

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